SM Entertainment and Tencent Music Establish Beijing Joint Venture STE

The announcement from Music Business Worldwide states that SM Entertainment and Tencent Music are establishing a joint venture in Beijing under the name STE. Super Junior-M’s Zhoumi has been appointed as the chief executive officer of this new company. The joint venture will focus its efforts on developing and managing artists intended for the Greater China market. In addition, STE indicates that it is currently preparing a new Chinese idol group which is expected to make its debut within two to three years.